Mining bill authored by N. Ecija solon passes final reading
A proposed law, principally authored by Nueva Ecija 1st District Representative Estrellita Suansing rationalizing and instituting a single fiscal regime for all mineral agreements has passed the final reading in Congress last Monday.
According to a statement from the House of Representatives, House Bill No. 8400 will also enhance the equitable share of government in the utilization of natural resources without compromising the mining sector’s need for reasonable return on its investment.
“Under this measure, there is no more distinction on whether mining exploration is conducted outside or inside a mineral reservation, and whether it is large scale or small scale,” Suansing said.
“Equity dictates that fiscal burden should be shared equally by all who explore the natural resources of the country,” she added.
The bill was co-authored by Congressmen Romero Quimbo, Jose Panganiban Jr., Vilma Santos-Recto, Jennifer Austria Barzaga, Angelina Tan, and House Speaker Gloria Macapagal-Arroyo, among others.
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